Why borrow?

Borrowing can be very helpful if you borrow sensibly and you are able to comfortably repay your debt. However, if you borrow more than you can afford to repay, it can strain relationships - with family, friends, or even with banks.

This is why borrowing money is only useful if you've first worked out how much you can afford to borrow.

Teenagers are particularly vulnerable to debt. Read why. Or learn how debt is affecting Australians generally, and the difference between good debt and bad debt.